영국 우유 인사이트

The average value of the FAO Dairy Price Index in October was 139.1 points, which is 2.5 points (+1.9%) higher than the September figure and 24.5 points (+21.4%) higher compared to October 2023 (Chart 1). World cheese prices increased the most due to limited supply, especially in EU member states, where there is a seasonal decline in milk production. World butter prices also increased, due to high demand and a seasonal decline in milk production in Europe. Prices for powdered milk decreased due to a seasonal increase in milk production in Oceania and sluggish world import demand. Figure 1. FAO Dairy Price Index Source: AVM study based on FAO data. According to clal.it, in January-September, milk production in the EU increased by 0.4% compared to the same period last year and amounted to 111.11 million tonnes (Figure 2). This year, the countries of Central and Eastern Europe have been hit by the

Spend on cow’s dairy grew 0.3% year-on-year, driven by growth in average prices of 0.6% (52 w/e 30 November 2024). On a four week ending level, the Bovaer news doesn't appear to have impacted demand for dairy.

In our latest survey of milk buyers, it is estimated that there were 7,200 dairy producers in GB as of October 2024. A small reduction of 30 producers was estimated since our last survey in April. In contrast, there was an estimated annual loss of 300 producers (-4.0%) since October 2023, indicating that the majority of industry exits took place last winter. Continued pressure on margins may have incentivised some of the decline last winter, alongside robust cull cow prices. However, better prices through the summer this year may have stemmed the flow of people exiting the industry for now.